MUCHADEL: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MUCHADEL
Largest movements
- Tangible fixed assets +€13,021
up €13,021 (+35.7%), from €36,521 to €49,542
- Receivables within one year +€3,600
new in 2025: €3,600
- Cash +€1,303
up €1,303 (+376.8%), from €346 to €1,649
mainly Other debts (+€13,557) and Net result for the year (+€4,753)
- Other debts +€13,557
up €13,557 (+58.1%), from €23,325 to €36,882
- Profit (loss) carried forward +€4,753
up €4,753 (+78.5%), from -€6,057 to -€1,303
- Other operating charges -€7,562
down €7,562 (-96.9%), from €7,800 to €238
- Gross operating margin -€1,427
down €1,427 (-21.3%), from €6,701 to €5,275
- Purchases and services +€1,427
up €1,427 (+49.2%), from €2,899 to €4,325
- Financial charges +€204
up €204 (+282.5%), from €72 to €276
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,867 | €54,791 | +€17,924 | +48.6% |
| Fixed assets | 21/28 | €36,521 | €49,542 | +€13,021 | +35.7% |
| Tangible fixed assets | 22/27 | €36,521 | €49,542 | +€13,021 | +35.7% |
| Land and buildings | 22 | €36,521 | €49,542 | +€13,021 | +35.7% |
| Current assets | 29/58 | €346 | €5,249 | +€4,903 | +1417.5% |
| Amounts receivable within one year | 40/41 | - | €3,600 | +€3,600 | |
| Trade receivables | 40 | - | €3,600 | +€3,600 | |
| Cash at bank and in hand | 54/58 | €346 | €1,649 | +€1,303 | +376.8% |
| Total equity and liabilities | 10/49 | €36,867 | €54,791 | +€17,924 | +48.6% |
| Equity | 10/15 | €13,156 | €17,909 | +€4,753 | +36.1% |
| Contributions | 10/11 | €9,916 | €9,916 | = | 0.0% |
| Capital | 10 | €9,916 | €9,916 | = | 0.0% |
| Issued capital | 100 | €9,916 | €9,916 | = | 0.0% |
| Reserves | 13 | €9,296 | €9,296 | = | 0.0% |
| Non-distributable reserves | 130/1 | €992 | €992 | = | 0.0% |
| Legal reserve | 130 | €992 | €992 | = | 0.0% |
| Distributable reserves | 133 | €8,305 | €8,305 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,057 | -€1,303 | +€4,753 | +78.5% |
| Amounts payable | 17/49 | €23,711 | €36,882 | +€13,171 | +55.5% |
| Amounts payable within one year | 42/48 | €23,711 | €36,882 | +€13,171 | +55.5% |
| Trade debts | 44 | €386 | €0 | -€386 | -100.0% |
| Suppliers | 440/4 | €386 | €0 | -€386 | -100.0% |
| Other amounts payable | 47/48 | €23,325 | €36,882 | +€13,557 | +58.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,899 | €4,325 | +€1,427 | +49.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €7 | +€7 | |
| Other operating charges | 640/8 | €7,800 | €238 | -€7,562 | -96.9% |
| Gross operating margin | 9900 | €6,701 | €5,275 | -€1,427 | -21.3% |
| Operating profit (loss) | 9901 | -€1,099 | €5,030 | +€6,128 | |
| Financial charges | 65/66B | €72 | €276 | +€204 | +282.5% |
| Recurring financial charges | 65 | €72 | €276 | +€204 | +282.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,171 | €4,753 | +€5,924 | |
| Profit (loss) for the period | 9904 | -€1,171 | €4,753 | +€5,924 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,171 | €4,753 | +€5,924 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.